Fannie Mae 2011 Annual Report Download - page 319

FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table displays restricted stock activity for 2011, 2010 and 2009.
For the Year Ended December 31,
2011 2010 2009
Number of
Shares
Weighted
Average Fair
Value at
Grant Date
Number of
Shares
Weighted
Average Fair
Value at
Grant Date
Number of
Shares
Weighted
Average Fair
Value at
Grant Date
(Shares in thousands)
Nonvested as of January 1 ........... 1,510 $37.34 2,873 $39.53 5,934 $41.19
Vested ......................... (944) 40.39 (1,199) 42.58 (1,858) 44.78
Forfeited ....................... (81) 32.89 (164) 37.34 (1,203) 39.61
Nonvested as of December 31 ........ 485 $32.14 1,510 $37.34 2,873 $39.53
The following table displays information related to unvested restricted stock as of December 31, 2011, 2010 and
2009.
For the Year Ended December 31,
2011 2010 2009
(Dollars in millions)
Unrecognized compensation cost ............................... $ 1 $ 19 $ 56
Expected weighted-average life of unvested restricted stock .......... 0.1years 1.0 years 1.6 years
Nonqualified Stock Options
Under the 2003 Plan and prior to conservatorship, we could have granted stock options. Generally, these options
may not be exercised until at least one year subsequent to the grant date, and the options expire ten years from
the date of grant. Typically, options vest 25% per year beginning on the first anniversary of the date of grant. The
exercise price of each option is equal to the fair market value of our common stock on the date we grant the
option.
The following table displays nonqualified stock option activity for 2011, 2010 and 2009.
For the Year Ended December 31,
2011 2010 2009
Options
Weighted-
Average
Exercise
Price
Weighted-
Average
Fair
Value at
Grant Date Options
Weighted-
Average
Exercise
Price
Weighted-
Average
Fair
Value at
Grant Date Options
Weighted-
Average
Exercise
Price
Weighted-
Average
Fair
Value at
Grant Date
(Shares in thousands)
Beginning balance, January 1 ....... 4,799 $75.07 $23.01 8,759 $72.39 $23.60 12,293 $72.12 $23.62
Forfeited and/or expired ........... (1,720) 79.96 27.49 (3,960) 69.15 25.26 (3,534) 71.45 23.66
Ending balance, December 31(1) ..... 3,079 $72.34 $20.50 4,799 $75.07 $23.01 8,759 $72.39 $23.60
Options exercisable, December 31 . . . 3,079 $72.34 $20.50 4,799 $75.07 $23.01 8,759 $72.39 $23.60
(1) All options outstanding are fully vested.
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